Sofia Property Fund Limited Court Ruling re Westhill Proceedings (5732M)
September 19 2012 - 1:00AM
UK Regulatory
TIDMSPFL
RNS Number : 5732M
Sofia Property Fund Limited
19 September 2012
COMPANY ANNOUNCEMENT
FOR IMMEDIATE RELEASE 19 September 2012
SOFIA PROPERTY FUND LIMITED
(the "Company")
Registered No: 43191
COURT RULING RE WESTHILL PROCEEDINGS
On 15th December 2009 the Company announced that it had received
an indication from Westhill BG8 AD (Westhill), a developer with
which the Company has partnered on selected projects, that Westhill
had lodged a claim with the relevant court in Bulgaria petitioning
the court for insolvency proceedings to be brought against the
Company's Bulgarian subsidiary.
The Board of Directors of the Company is pleased to announce
that the Sofia City Court has dismissed the claims of Westhill BG8
JSC, Westhill Development Partnership Ltd, and Westhill Bulgaria
Ltd against the Company's Bulgarian subsidiary as groundless and
has refused to open proceedings.
The court has awarded the Company's subsidiary costs to a total
amount of BGN 317,000 (EUR 162,000) equally distributed against the
three claimants.
Enquiries:
Sofia Property Fund Limited
Charles Burton
Panmure Gordon (UK) Limited
Dominic Morley
Phone: +44 207 614 8388
This information is provided by RNS
The company news service from the London Stock Exchange
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